10:30 AM EDT, 03/27/2025 (MT Newswires) -- Vision Marine Technologies ( VMAR ) said Thursday that its board approved a 10-for-1 reverse stock split, effective when the market opens on Monday.

The company said the main goal of the reverse stock split is to boost the per-share price of its common shares to avoid non-compliance with Nasdaq's minimum $1 bid price per-share requirement.

The company's shares were down 7% in recent trading.

Price: 0.58, Change: -0.04, Percent Change: -6.95